FIL 351 Syllabus
Tuesday, Thursday 12:35-1:50 PM
SFH 369

Life and Health Insurance
Spring 2013
 

Professor Richard MacMinn

• Office:  SFH 432A 
  Phone:  (309) 438-7993
• E-mail: richard.macminn@ilstu.edu
• Office Hours: by appointment
   

Graduate Assistant:  Safdar Ali
        Office: SFH 432A
        E-mail: saali@ilstu.edu
        Office Hours: by appointment

Prerequisites:

FIL 250 is the required background.  Basic accounting, finance and statistics are also essential to understanding the principles developed in this course. If you have not had these courses, then you should be prepared for extra reading. 

Required Textbook:  

  Black and Skipper, Life and Health Insurance (Thirteenth Edition), Prentice Hall

  Recommended: Links to additional reading are provided in the schedule of lectures and dropbox.

Course Description:

This course examines the life and health insurance markets from the perspective of the buyer and seller. It also includes an analysis of group insurance contracts.  Consideration is given to how life and health insurance products fit into the broad framework of financial planning and financial management.

Schedule:

Electronic Mail:

Assignments must be submitted via e-mail unless otherwise specified.

The Web:

You will be given a brief introduction to our use of the web during the first few weeks of class.  Lecture notes and other materials will be provided through these web pages or dropbox.

Course Evaluation:

• Examinations.
  There will be two exams and a final. The exams will be essay questions.
  • Exam I:  March 7^th, chapters 1-6
  • Exam II:  April 23^rd, chapters 7-8, 18, 21, 22, Annuity lecture, other reading
  • Final: May 6^th, 3:10-5:10 PM, SFH 22E, comprehensive

• Grading.
  Course scores will be based on the following formula:

.1A + .9 max{F, .3 I + .3 II + .4 F, .5 I + .5 II},

where I, II, and F indicate the scores on exams one, two, and the final, respectively. A represents an average of the assignment scores. The assignment score will be an average score for assignments given to you during the semester. All assignments will be pass or fail unless otherwise specified.  The pass and fail scores are one and zero, respectively.  Finally, the assignment score may also be based on class attendance and bonus points for attending specified functions at my discretion. The course scores will determine your grade in the class as follows:

• Reviews
  • Some class time will be allocated to review for the exams.
  • You may request the re-grade of an exam within a week after it is returned. Your score may be increased or decreased as indicated by any existing grading error.

Course Policies:

• If you attend class but must leave before the end of class, let me know before class begins!  You may do this via e-mail if you prefer. Class attendance may be taken periodically, and you are subject to losing assignment points if you leave class early without letting me know.
• Assignments will be submitted via the web or in an e-mail message. If it is submitted as an e-mail, then the subject line of the e-mail message must correspond to the instructions on the assignment sheet for you to be given credit for the assignments. Send a copy of the assignment to yourself as proof that you submitted the assignment.
• Students missing an assignment or exam without my prior permission will receive zero for it. Requests for an excused exam absence must be made before the exam; e-mail is preferred.
• Make-up or extra work to improve your grade is not possible. Your final letter grade is determined solely by your exam, assignment scores, and class participation. Also, no special considerations concerning your general academic situation can be offered. The final grade in the course, once assigned, will not be changed except in the event of a grading error.
• All tables, formulas and scratch paper will be provided with your exams. You must bring a picture ID to the exam sessions.
• Any individual caught cheating will be disciplined to the maximum extent possible.
• Exams will not be returned. They will be available for review during the week after the grades for that exam are posted. After that time, they will be stored.
• Your exam score will be posted as soon as possible. Allow at least five working days for grading. If you feel that the posted grade is incorrect, you have one week from the date the grades are posted to bring the matter to my attention.
• If you do not attend a class, it is entirely your responsibility to determine what you have missed, including any administrative announcements I may have made. Not all announcements will be made electronically!
• A conflict may arise between the final in this course and a final in one of your other courses. I am willing to work with you in resolving this conflict. The conflict must be brought to my attention at least two weeks before the scheduled final. After that time, no adjustments will be made, and I will expect you to attend the final as scheduled.

Study Guidelines:

• You need to understand what you are studying, whether it be conceptual or analytical. When you study, ask yourself questions such as:
  • What is the purpose of this concept or formula?
  • Why is it important?
  • How does the author demonstrate its importance?
  • How does it fit with what you have studied so far, either in this class or in an earlier class?
• I suggest that you skim each chapter once before it is discussed in class and then read it thoroughly after the topic is covered in class. If you are having trouble with a concept or problem, then see me as soon as possible.
• The lecture notes contain the important points in this course. Use them as a guide for your studying efforts.
• Most students find the course material to be rigorous. Memorization of facts, definitions, etc., will not suffice.
• Cramming right before an exam usually results in confusion, anxiety, and a loss of the big picture!

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	Modification Date:  Tuesday, 29 May 2007 12:06 -0700 Comments to: Richard MacMinn